Limitless Labs, a new startup in the prediction market space, announced that it had raised $3 million in pre-seed funding led by prominent VC firm 1confirmation. Other investors contributed to this round, including Collider, Paper Ventures, and Public Works.
This substantial capital injection comes as the platform experiences significant growth, with a notable 800% increase in volume over the past week alone. 1confirmation’s co-founder, Nick Tomaino showed his prospects, commenting, “I believe prediction markets will see trillions of volume in coming years and love what Limitless is doing on Base.”
Surge in User Engagement and Transaction Volume
The Limitless platform pays out more than $200,000 daily, with half of the active users trading daily. The growth in activity levels can be attributed to the platform’s novel position in prediction markets, especially those with shorter timeframes. These markets, which typically involve daily predictions on the price of cryptocurrencies, have become popular among users who prefer not to lock up their capital for extended periods.
Another key differentiator for Limitless Labs is its user-generated markets, allowing users with significant social media followings to create and suggest new markets. If a suggested market gains traction and generates trades, the user earns rewards based on a percentage of the market’s volume.
This feature has proven to be highly effective in fostering a sense of community and driving user engagement, with many of the platform’s most popular markets being created by its user base. Commenting on
Limitless’ Focused Growth and Future Prospects
Limitless Labs intends to speed up its platform’s development and introduce new offerings in addition to venturing into new markets within the prediction market space. The company is also preparing to source more funds by exposing itself to other external market makers on top of the scope it has already ventured into. Since prediction markets are getting increasingly popular, Limitless Labs has marketable solutions that enable it to take advantage of this trend.
Limitless Labs, established in December 2023 by Cj Hetherington, Roman Mogylnyi, Dima Horshkov, and Rev Miller, remains on record as concentrating on creating a strong intersection of prediction markets and social finance. The company operates as an R&D network specializing in developing prediction markets, blockchain technology, and AI applications.
